MY COMPANY HAS:
PAID UP CAPITAL OF Rs. 50,00,000/-
RESERVES & SURPLUS (RS. 49,00,000/-) LOSS
TURNOVER Rs. NIL.
LOANS Rs. NIL.
PLEASE LET ME KNOW THE APPLICABILITY OF CARO.
Devendra
(Chartered Accountant)
(4775 Points)
Replied 15 September 2011
In your case, CARO shall not be applicable.
The Paid up capital of your Company is Rs. 50 Lakhs and not above the spicified limit. Also your reserves and surplus has a debit balance and lastly your turnover is not above Rs. 5 Crores.
Hence, CARO not applicable for your Company.
Regards,
Devendra K
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)